DRW Securities LLC Has $2.55 Million Position in Ovintiv Inc. $OVV

DRW Securities LLC grew its holdings in Ovintiv Inc. (NYSE:OVV) by 26.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 59,475 shares of the company’s stock after purchasing an additional 12,456 shares during the period. DRW Securities LLC’s holdings in Ovintiv were worth $2,546,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Atlas Capital Advisors Inc. raised its holdings in shares of Ovintiv by 1,681.1% during the 1st quarter. Atlas Capital Advisors Inc. now owns 13,875 shares of the company’s stock worth $594,000 after buying an additional 13,096 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in shares of Ovintiv during the 4th quarter worth $25,272,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Ovintiv by 383.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 9,258,570 shares of the company’s stock worth $396,267,000 after buying an additional 7,344,796 shares in the last quarter. AXA S.A. raised its holdings in shares of Ovintiv by 56.7% during the 4th quarter. AXA S.A. now owns 21,715 shares of the company’s stock worth $879,000 after buying an additional 7,853 shares in the last quarter. Finally, Raymond James Financial Inc. raised its holdings in shares of Ovintiv by 204.2% during the 1st quarter. Raymond James Financial Inc. now owns 583,839 shares of the company’s stock worth $24,988,000 after buying an additional 391,923 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on OVV shares. UBS Group boosted their price target on Ovintiv from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, August 20th. Wells Fargo & Company lowered their price target on Ovintiv from $46.00 to $41.00 and set an “equal weight” rating for the company in a report on Monday, June 16th. The Goldman Sachs Group raised Ovintiv from a “neutral” rating to a “buy” rating and raised their price objective for the company from $47.00 to $51.00 in a report on Tuesday, July 1st. TD Cowen raised Ovintiv to a “strong-buy” rating in a report on Monday, July 7th. Finally, Barclays raised their price objective on Ovintiv from $55.00 to $57.00 and gave the company an “overweight” rating in a report on Friday, July 25th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $53.07.

Ovintiv Trading Up 0.5%

NYSE OVV opened at $42.17 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.42. Ovintiv Inc. has a twelve month low of $29.80 and a twelve month high of $47.18. The company has a market cap of $10.84 billion, a price-to-earnings ratio of 18.66, a price-to-earnings-growth ratio of 5.25 and a beta of 1.10. The business’s fifty day moving average is $40.06 and its 200 day moving average is $38.94.

Ovintiv (NYSE:OVV) last announced its earnings results on Thursday, July 24th. The company reported $1.02 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.02). The company had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.92 billion. Ovintiv had a return on equity of 14.24% and a net margin of 6.46%. As a group, sell-side analysts expect that Ovintiv Inc. will post 5.59 EPS for the current fiscal year.

Ovintiv Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.20 annualized dividend and a yield of 2.8%. Ovintiv’s payout ratio is presently 53.10%.

About Ovintiv

Ovintiv Inc, together with its subsidiaries, explores, develops, produces, and markets natural gas, oil, and natural gas liquids in the United States and Canada. The company operates through USA Operations, Canadian Operations, and Market Optimization segments. Its principal assets include Permian in west Texas and Anadarko in west-central Oklahoma; and Montney in northeast British Columbia and northwest Alberta.